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, and in terms of the sequester, i agree with the last guest. in many ways between the fed and the deficit spending on the deficit level, even though it's going to be smaller this year, it's hard to beat, that so i think the sequester, where we really demonstrate that the growth in many ways is paid for because when you stop it's going to take away jobs, those kind of black reality swans will be the issue for the market ahead. >> brian gendron, where are you on this and how do you want to be invested? >> we don't think this rally is over entirely. if you extrapolate a 5% or 6% return we've had so far this year, we'll have one of the greatest stock markets of all time in the face of, you know, good earnings but not great earnings, in the face of still slow growth. i think that's a little unrealistic so we'll probably get a little bit of a pullback, unusual if we didn't. still recommending a substantial allocation to equities. this year looks like last year, political uncertainty. last year was a good year for stocks. as for stocks versus bonds, i've been thinking it was the end of a 30-year
" is next. host: the federal deficit is expected to dip below one trillion. the news comes as republicans and democrats face a march 1 deadline to avoid billions in across-the-board spending cuts. the pentagon announced it will offer benefits to same-sex couples. in the senate is wrapping up work on the violence against women act. and the house will vote on a bill requiring the president to offer a plan to balance the federal budget in 10 years. good morning. we begin with your take on the leaked white paper from the white house just fine drone strikes on u.s. citizens overseas. nbc news reported on the memo monday night and it has gotten lots of reaction in washington. what are your thoughts? call -- we want to get your thoughts on social media as well on twitter or facebook. or send us an e-mail. we will get your thoughts in a moment. first, josh gerstein is joining us on the phone. here's your headline -- what was this memo? guest: this is a white paper that looks like it was derived from some confidential legal opinions that the opinions -- opinions that the justice department wrote t
economy back to work and create jobs, jobs, jobs. that's what this is about. our deficit has been coming down and the patient approach is to recognize that we actually have time. we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you think about the single mom working 12 hours a day and her paycheck does not take her to the end of the month on food. what she realizes and has been a responsible mom, but realizes after she makes the decision to have her child not have an abortion is that her paycheck is not going to help her feed her infant. the women infant children program not only feeds these families, it also teaches them about nutrition and how to be healther a
. >> it is almost a false argument to say we have a spending problem. we have a budget deficit problem that we have to address. right now we have low interest on the national debt and it is a good time for us to act to lower that deficit. we think they must be reduced. we are sick and tired of paying interest on the national debt. that is a large percentage of the budget. it is lower now because of the lower interest rate. dagen: i do not speak pelosi. let me see if i can translate what she was saying. she does not believe there was a spending problem. the budget deficit and budget cap should be fixed -- >> i think she is talking out of her -- i do not think there should be any tax increases. i think it is time for the fiscal deficit to call it off and a clear victory. there are signs we have gone too far too quickly. left or right, i am very happy to hold off on these tax increases which i think will appeal to a lot of people. i am in equal opportunity growth guide. both sides of the aisle. i do not think we spend too much money. it is a symptom of a problem. dagen: you are arguing that we should
.s. and more made in america products shipped overseas, the u.s. trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely boosted growth in the last three months of 2012. >> so this is a good sign that exports were a little stronger than we thought when the numbers were first estimated and that is obviously a good sign for the economy. again, the economy is obviously growing way too slowly, but at least on this note, i think it will be revised upward. energy is a now a bright spot for the u.s. economy. thanks to new fracking technology, surging domestic production cut crude oil imports last year by 227 million barrels. but tt success was offset soewhat by imp
with some of my republican friends is that we'rewe all want to fix the deficit problem. there is no question. but i think, when they have a chance to look at this bill and understand what we're really facing, i don't think we will have a problem. >> how is this different from the proposal from a year ago? >> did we have a pay freeze a year ago? [laughter] >> it is different. the house had the attrition of the workforce that is in this component. we had a combination -- instead of every three positions that came open. we had two. and a combination of overall across the federal government over a year. this is different here it combines both so we're on the same page. and we have the house proposal on nutrition and we added congressional pay freeze on it. >> what makes you think this time around that the senate majority leader will take up this proposal? >> i would certainly defer to the chairman, but there is a real urgency here. one of the reasons that the president and the administration, during this campaign, didn't want the actual warrant act, the law that requires to notify workers that t
the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75 year time frame we talk about budgets. the american people need to know t
to save $45 billion this year. that's 4% of the deficit. we're going to endanger our national defenses and shortchange our servicemen and women overseas for the sake of cutting 4% from this year's deficit? it is totally irresponsible. >> stephanie: wow. deficits don't matter again. >> that's a good point. deficits are this -- you know, this sort of murderous ominous thing that is hanging over the generations and obama doesn't care about the future generations. there are actual cuts. but look, crystal he uses this card all the time. he wrote a column last week saying if democrats don't vote against chuck hagel they're endangering our troops. we want to have some -- cutting that republicans claim we have to do, they're endangering our troops. >> stephanie: all right. hang on, eric remains in the side sidecar. we continue more right-wing world. it is "the stephanie miller show." >> announcer: there's a tea party in her pants and you're invited. call now. 1-800-steph-12. with the know how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready.
've taken. they've taken three quarters of the potential revenue for deficit balancing off the table. >> they is? >> congress. >> or are we saying the democrats, the president? >> everybody. this is what they all agreed to, right? so that's problem number one. problem number two is on the spending side, now are we going to make serious cuts or not? i don't think they are unless we go over the cliff. there's not going to be any opportunity to cut pentagon spending in any serious way if you don't go over the cliff. so there is some stuff in there that i as a democrat don't like. but i think everybody's going to put something in the pot in order to balance the deficit. we did a lousy job in january on the tax side and i hope that -- i think it's better to go over the cliff than do a lousy job -- >> how many people do you know on your side of the field who actually agree with you? >> very few. look they're politicians. they want to spend as much money as they possibly can and they don't want to pay for it. >> who agrees with you? >> oh, i don't know. i bet -- oh, god, joe agrees with me.
with a record debt and deficit, threat of global warming, threat of global poverty, of pandemics, of national security challenges like continuing war on terrorism, the instability of iran and north korea, rising powers, turmoil across the middle east, turmoil in north africa, the proliferation of weapons of mass destruction and the growing threat of cyberattacks. how we confront these problems, how we deal with these challenges will in many ways determine that future course of america. it will determine whether the united states will be a leader in the 21st century or whether we will be just another failed empire in history. to succeed we will depend on the resilience of our economy, the strength of our diplomatic and military institutions and above all, the effectiveness of our political system that underpins in many ways what we do as a country. and that brings me to what i see as perhaps the most urgent task facing this nation and facing all of us and that is overcoming the partisan dysfunction in congress that poses a threat to our quality of life, to our national security, to our economy
capal managent. >> tom: president obama is once again pushing for a big deal to reduce the deficit. in a preview of the themes he'll lay out in next week's state of the union address, the president told house democrats today he'd press for a big agenda covering everything from fairness, and jobs to deficits and debt. darren gersh has more. >> reporter: with just a few weeks to go before automatic across the board spending cuts kick in, the president told fellow democrats his state of the union address next week will call for a change in course. >> i am prepared, eager and anxious to do a big deal, a big package, that ends this governance by crisis where every two weeks, or every two months, or every six months, we are threatening this hard-won recovery. >> reporter: republicans may not applaud during that part of the speech. they've blasted the president for offering symbolic solutions like a tax on corporate airplanes that would raise enough money to cover one month week of the automatic spending cuts know collectively as the sequester. given the stand off, analysts now predict th
in education, boosting clean energy production, and reducing the deficit. does that sound like a jobs plan to you? >> well, it certainly -- i certainly think the american jobs act that i keep saying, it sounds like a talk point, but in that we should pass. and that is up to the house republicans to get that through. but i think that part of the problem for the president is that he has been beating the same drum repeatedly over and over and over again and he keeps coming up against republican opposition in the house. brad said that we have a spending problem. i agree that there are things that we need to look at to make sure that our deficit is under control. that's more of a long-term problem. in the short-term, we need to spend more to get the economy back on track. >> no, quite the contrary. rick, we spend too much money. our economy is not growing because people are fearful. one of your great here rose, bill clinton, said there is about $2 trillion that people are sitting on. why? because they have no confidence in sure ty in the marketplace. we have a democrat senate that hasn't produc
republicans want a bigger agreement on a long-term deficit reduction plan. the white house also announced today president obama will be going to israel this spring for the first time since taking office. israeli media say he's due to arrive march 20th, though the white house would not confirm any of the travel dates. >>> we are learning much more tonight about the breaking story we brought you here last night. the dramatic rescue of a 5-year-old boy after a standoff in alabama that lasted almost a week. nbc's gabe gutierrez is with us tonight from midland city, alabama. gabe, good evening. >> reporter: brian, good evening. today ethan's mother broke her silence. in a written statement she said, i woke up this morning to the most beautiful sight, my sweet boy. i can't describe how incredible it is to hold him again. at the hospital today, there were no signs of the ordeal young ethan, seen here in earlier photos, has been through. >> he was running around the hospital room, putting sticky notes on everyone that was in there, eating a turkey sandwich, and watching spongebob. >> reporter: at
of the president's most prominent items fallwell below the economy in budget deficits, among americans' top concerns, mr. obama is expected to cast them in economic terms as well, citing among other things, the benefits of attracting the world's best minds. the president's tone will matter, too, as he faces a choice between confrontation and compromise. >> he can continue the approach he's taken, which is very much an outside game, pressure the congress, turn up the heat. or he can go for a more conciliatory approach in this speech. >> reporter: the president will follow up his speech by taking his state of the union message on the road. he has three stops after the speech. they are asheville, north carolina, atlanta, georgia, winding down in his hometown of chicago. >> thank you, peter. we want to remind everyone, nbc news will have live coverage of the state of the union address tuesday at 9:00 eastern. >>> gunfire erupted on new orleans' famed bourbon street overnight, wounding four people and sending mardi gras revelers running for cover. police said the shooting followed an argument. t
. but that we're looking at the smallest budget deficit since president obama has been in office, well under $1 trillion at $845 billion. and they say federal revenue, going up 25% in part because of that fiscal cliff deal. >>> well, a major decision expected from the boy scouts of america. national board members set to vote on whether to leave the decades-long ban on gay leaders and scouts. in texas, it is a controversial issue drawing fire from both sides and putting one of the country's largest youth organizations under a microscope. president obama said over the weekend scouting should be open to everyone while texas governor rick perry expressed the opposite opinion. local scout units will be able to decide on whether to leave gays to their ranks. and on the heels, the pentagon is announcing a policy shift. leon panetta is expected to expand some benefits to granting access to various spots on bases are said to be included. however, it remains droughtful that mental, dental, housing allowances would be offered under the new proposal. an extension of those benefits would require an appeal o
numbers like the better than expected trade balance which saw deficits shrinkage of about, what, close to 21%. all of these december numbers are going to impact potential revisions to gdp for the fourth quarter, which we received last week. and it was a paltry minus .1 of 1%. we'll watch this number very carefully. interest rates have moved up with stocks. wholesale inventories shrank .1 of 1%. sales were unchanged at a goose egg. we were expecting .4 on inventories. this is going to be very key as we factor in some of our potential revisions for the next look at fourth quarter gdp, which comes at the end of the month. here we get close, within two basis points of 2%. remember, we started out around 193, 194 today and closed last week at the highest yield close going back to april at 2.02. >> rick santelli, thank you. not too much reaction in terms of the major averages to that data. it is important to keep in mind, with these gains here, we're now positive for the week. definitely for the s&p 500. this is a new high, by the way, on the spx. up almost eight points. the nasdaq as you se
feel that same sense of shared responsibility. that is how we will reduce our deficit. that is america built to last. [laughter] -- [applause] i recognize that people watching tonight have differing views about taxes and debt and energy and health care. no matter what party they belong to, i bet most americans are thinking the same thing right about now -- nothing will get done in washington this year. or next year. or the year after that, because washington is broken. can you blame them for feeling all little bit cynical? the greatest blow to our confidence in our economy last year did not come from event beyond our control. it came from a debate in washington over whether the united states would pay its bills or not. who benefited from that fiasco? i talked tonight about the deficit of trust between main street and wall street. but the divide between the city and the rest of the country is at least as bad, and it seems to get worse every year. host: from january of last -- of last year, the president in his state of the union address. some of the same themes it will continue this wee
to the deficit. on that list of attendees for that meeting include marshall fitz from the center for american progress. ben jealous from the naacp and richard from the afl-cio. later in the day the president is meeting separately with a group of business leaders. that includes lloyd from goldman sachs, from yahoo and kent from coca-cola. congress has the next three and a half months to run up the deficit as much as it wants. the house and senate extended the debt ceiling. president obama has signed the no budget, no pay act of 2013. not only does that put off the nation's debt obligations until may 18th, it also withholds pay for a number of congressmen and womenless women unless they pass a budget by april. >>> eight senators have voted to block the violence against women act. that bill would protect victims of domestic violence and this particular version extends that care to illegal immigrants, native americans and lgbt members. senators who voted against considering that bill include ted cruz, marco rubio and rand paul, all republicans. more bill's up next. stay with us. to me now? you k
to the deficit crisis. republican senator mitch mcconnell says that he know that sequestration would have consequences, but he blames president obama for not putting forward an acceptable plan to prevent it. for more on that, jonathan strong, staff writer, role call, alexander burns and national political reporter with politico. good afternoon to both of you. >> hello. >> outgoing defense secretary leon panetta warned that the $85 billion in cuts would curtail american naval operations by a full third and could force furloughs of as many as 800,000 civilian workers. take a listen to what he said. >> it is difficult to believe, frankly, that congress would simply stand aside. stand aside, fail to make the decisions necessary to resolve this crisis and allow the defense economy, equality of life of america to be irreparably damaged. >> how damaging would these cuts be to our national security? >> it's a great question. the impact is going to be fairly dramatic to some of the employees, civilian employees of the pentagon and some other places. the 85 billion in cuts is through the rest of th
love. the sequester is designed to get the deficit under control, but economists are worried that the cuts are so deep, they'll trigger a recession. today, the president called on congress to pass a budget package to avoid the sequester or at least delay the shock. >> if they can't get a bigger package done by the time the sequester is scheduled to go into effect, then i believe that they should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a few more months until congress finds a way to replace these cuts with a smarter solution. >> pelley: in an interview on sunday, we asked the president about all of this. we found out last week that the economy actually shrank in the last three months of last year. if the federal spending cuts that are on tap for march actually take effect, will that push the country into recession? >> i don't know if it will push the country into recession, but here's what we know. the reason that the economy shrank a little bit, despite the fact that housing is re
in budget deficit among top concerns, mr. obama is prepared to cast them in economic terms as well, citing the benefitof attracting the world's best minds. the president's tone will matter, tomatter t, too. >> he can continue the approach he's taken, cl which is very mu an outside game. turn up the heat. or he can go to a more conciliatory tone. >> reporter: he has three stops after the speech, asheville, north carolina. atlanta, georgia. winding down in his hometown of chicago. >> all right, peter. we want to remind everyone, nbc news will have live coverage of the state of union address on tuesday at 9:00 eastern. >>> gunfire erupted on enormous' famed bourbon street overnight, wounding four people and sending mardi gras revelers running for cover. police said the shooting followed an argument. two men and two women were hit. one of those injured is in guarded condition. the shooter still at large. new orleans has for years suffered an epidemic of gun violence, earning it the distinction of being the nation's murder capital. it, however, is not taking it lying down. tonight nbc news kick
and deficit. to put a plan in place. it's not just because we want to send a signal to the markets that washington's getting its act together. that's true. and that's a good result. but, it really is to help people. we don't want to see interest rates go up and the need for higher taxes. we don't want to see burden laid on the families, and individuals just coming out of school or seniors. we're trying to put us on a path to a growing economy, where there's more opportunity. >> but eric, you're still in a position of trying to sugarcoat a position of telling people that they are going to be getting less. that you're not going to make the same loans available, that this is a -- this is something that the president campaigned on very successfully. it's that situation. it's the immigration situation. are these different positions or this is just a new way of saying the same thing? >> look. what we're saying is our policies are the best path forward to help people in their lives. and the conservative principles of not spending money you don't have, of making sure that you put in place
about two trillion in deficit reduction so far and have another two trillion to go and something that reasonable minds agree on. it will be more fun when you are making new investmentings. >> here's the problem. so many americans believe that congress is so pol oarized right now . so difficult to make head way at this moment. everybody is camped out and take care of their own agendas . how do you get past that right now. & not every democrats support it an agreement and in my view tax were deciped and now why have turn to spend everybody acknowledges we have a spending problem and so to prevent the dire consequences that come with sequestitration and economic and national security wise and domestic programs are cut, too. we have to cut spend nothing a smart way and no reason we can't do that. >> we'll give you the last word. do we have a spending problem and believe that that is at play right now. >> we'll have to reduce spending . andy he upon said we need to have it. it was all spending cuts and the second round increases . and they are advocate that's what the country wants .
. they -- itch the issue is, we see the debt and the deficit, we could address it by just hiking taxes. the underlying spenting isn't the problem. maybe not enough revenue is. >> the problem its we're run out of revenue payers. the amount of people on subsidies is far outpacing the amount of people to tax, and the dangerous cob sequence -- we've seen the consequence of washington not coming up with policy formulations in a pro-active way. we're still discussing social security solvency, which is pathetic. still trike to figure out how to pay for the health care spitelements and they're a collective arrogance on the part of congresswoman pelosi when 50% of northwestern people are saying, please, do something about this. >> she is not alone. there are knock of prominent democrats, we don't have a spending problem, we have a healthcare problem, and get everything under control. so you can be in denial a long time before you're starting to say it's more than a river in egypt. >> it's true but at it ultimately an arrogance saying we're the united states of america. we're never going to defa
a budget deficit we're worried about we're going to make you fund your pension plan 70 years in the future just to bankrupt you. >> they purposely tried to tank it. it's really sad. a lot of older people, rural americans who depend on medication, this will hurt them. the post office entire funding comes from postage. most people think it's taxpayer money. they had to sell off a lot of greatest properties they had the most beautiful post offices here in new york, and we can look at dianne feinstein's office husband for that. we'll look into it. >> micromanaged by congress but they don't get the taxpayer money from congress. it's a time bomb by the bush administration to make government smaller. >> john: exactly. >> and so everything that they want to see--yes--it comes to fruition. >> and all these people who sitting around all these year not attacking congress, congress attacks them. >> how does it make you feel? >> that was sent from you and it was anthrax. i regifted it. >> john: anyone who remembers the 80s and 90s postal workers are the people you do not want to upset. we'll talk about
. while he's faced deficits before and avoided layoffs and furloughs, he says it won't be that easy this year. >> there's just no way, not enough income coming into the county. >> when can we expect answers? >> last night on the southern end of the county, residents spoke out hoping the community's needs wouldn't end up on the chopping block. the most vocal is friends of of the library, friends worried about rumors of cuts in hours and staffing. >> our system is highly integrated. loss of one library would impact the whole system. >> reporter: he says the possibility of cuts in those areas are the most troubling. >> we're at a point where we're making tremendous progress, not just in the police department, but in our state's attorney's office and sheriff's department, corrections department. we don't want to go back. >> i wouldn't like to be in his position, but it's a fact of life. >> we do not want the county executive or county koujs 8 to do a slash an burn. >> the final will be happen this thursday. it starts at 7:00 p.m. the county executive is expected to submit his proposal t
absorb these cuts. jr. jer that's going to be our deficit this year. are you happy about that? we're under a trillion. whoo hoo, throw a party, right? >> and the sequester's supposed to cut that by a grand total of about 10%. but fema's a perfect example of what i'm talking about. does anybody not really believe that fema couldn't increase its efficiency by 5%? my goodness, that's nothing given the kind of waste, fraud and abuse that you've shown on this show. look, they could easily do that. gerri: well, that would be a starting point. that's not the whole way to go, that's for sure. there's more to be done. >> but let's go back to my original idea. why can't we get back to the old-fashioned idea of people getting relief from their local governments and state governments and churches and people in their area? i was in houston not long ago, and people were say, you know, we had a terrible storm in houston. very few people got federal relief, and the homes that were damaged and the stores that were damaged were very rapidly rebuilt with almost no federal money. when did we get this
down the deficit as you promised as president promises in his first term this run away spending that idea that you just soak the rich there ain't enough rich to soak, let's show a little bit of the report and reduce the cost of size of government. charles: politicallia, i am familiar with your thoughts and words in the past there is a large segment of democratic parties or voters who are not looking at this from a phys call point ofiscalpoint of view, buta justice for the ranges of wester year -- wrongs of yesteryear. >> i don't know what you mean. charles: redistribution of wealth, excessive taxation, deon de-- demonizing businesses. >> this is the evolution of a country, every 4 years we get a chance to choose a different president, and this time we decided not to. you know, i really don't think that there is -- lou: that is not an economy argument. >> i really, -- that was not his question. charles: so, guy -- >> it was about politics, to respond, i think that dc is too barpartisan, i am not in dc thee is a reason that i lift dc . charles: i want to go to you last, guy, where
political party demands deficit reduction at all costs because those costs will be enormous. that being an editorial. the economic impact of all of this, when we look at that, when does it really trump political fears that this is a real reality? >> it might never trump political fears. have you noticed politicians being so worried about preserving the economy the last couple years? we could hit, and it's worth saying we have not actually come to one of these cliffs or deadlines where we have gone over. we didn't shut down the government in february 2011, didn't breach the debt ceiling in august 2011, didn't go over the fiscal cliff for very long in january of 2012, and we very likely and at least could kick off the debt ceiling for a couple months so far, so so far we haven't actually gone over any of these, nor have we come to permanent solutions. either we'll have to come to permanent solution or eventually sometime, somewhere, we are going to have to go over one of these cliffs because there won't be another option. >> we will let you go. either you have forced all your colleagues t
closing their budget deficit overnight really with tax -- big tax rise that governor brown got through. gold is the fear trade and look how quickly that has abated here in california. that potentially is a mantra for the country, and if people think the fear trade is gone. where are they going to go, equities and 14,000 may just be the beginning. that's what i see. >> that's right. >> the gold rush is over in california, again. >> thanks, everybody. we'll see you soon. appreciate your time. we are watching dow 14,000 going into the close tonight. josh lipton is right now looking at the stocks leading the comeback. over to you, josh. >> maria, big gains today following yesterday's selloff and lots of new highs starting with the dow transports, hitting a new all-time high year-to-date. the transports have outpaced the dow industrials by over 4%. all driving the rally, information technology stocks, computer sciences. the biggest gainer in the sector and on the s&p 500 today, up around 10%, a turnaround story, the i.t. company posting a third quarter profit on improving revenues and asset
Search Results 0 to 49 of about 65 (some duplicates have been removed)